Which of the following best illustrates the fallacy of composition? a. if mr. smith had more money, he could buy more scarce goods; if the adams family had more money, it could buy additional goods. b. if ms. spann had more money, she could buy more scarce goods; if the nation had more money, everyone could buy more scarce goods. c. if other variables are not held constant, economists may not observe the relationship between price and quantity demanded that is expected. d. aggregate consumption may not behave in the same manner as the consumption of a particular individual

Stormie zanzibar owns a bakery in the fictitious country of olombia. each month the government’s market ministry mails her a large list of the regulated price of goods which include products like bread, muffins and flat bread. the list also dictates the types of goods she can sell at the bakery and what she is to charge. because of the regulations placed on these goods, stormie has increased her production of sweets, pies, cakes, croissants and buns and decreased her supply of breads, muffins and flat bread. she has taken these steps because the sweet goods’ prices are not government controlled. stormie zanzibar lives under what type of economy?